This is the second fund of funds for Gree Ventures.
Gree Ventures, the investment arm of Japanese mobile gaming firm Gree Holdings, completed the first close of its second fund of funds with ¥4.4bn ($30m).
The Gree LP Fund JP 2 (JP2), which the company first announced last week, will target investments mainly in Japanese VCs.
The final total fund amount is planned to be ¥6bn.
The company plans for the fund to offer diversified exposure to multiple VC funds and help reduce risk.
Gree Ventures expects to gain insights and deal flow from approximately 600 startups by investing in about 20 Japanese venture capital funds.
This fund of funds comes three years after first Gree’s LP Fund JP 1, which was more than $80m.
Gree Ventures also invests directly in startups.
